Cover One protects you against the risks of non-payment of invoices, as well as work-in-progress costs, under one contract for up to 3 years.

Each individual contract forms the basis for a policy and the cover is fixed throughout the contract.

It is a new kind of insurance from Euler Hermes, designed to insure a specific contract. It covers this single contract for up to 36 months, with a credit limit that’s non-cancellable. This is different to ‘single risk’ insurance which is usually for repeat business, with a policy that stays in place for 12 months.

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5 key benefits to your business

Peace of Mind
Reassurance
Explore New Markets
Simple and Flexible
Protected Margins

Peace of Mind

Insure your business when you suffer loss as a result of non-payment for goods or services supplied under the insured contract; or you insability to supply the contracted good or services, should your customer:

become insolvent;
not pay within a certain perdio (specified in your policy);
default and we do not approve further manufacture and/or supply; or
be based in a territory affected by political risk and/or natural disasters.

Reassurance

We provide reassurance for your business and your bank by protecting your profits and securing funding on better terms.

We provide non-cancellable Credit Limits for single contracts up to 36 months. On average, up to 90% of the loss is paid out in the event of a claim. By insuring with Euler Hermes, you are well covered by our renewned experise as an Allianz entity and our AA S&P rating.

Explore New Markets

We provide worldwide coverage no matter it is domestic or export business (Depends on the territory).

Simple and Flexible

With Cover One, only very low ongoing admin work from your side is required as we retain flexibility on the contract value and contract length up to 36 months.

Protected Margins

The coverage would be in place before the contract of your project starts, allowing you to pass on the costs as part of the project.

How it works

Check your customer and close the deal
Apply for Cover One before you enter into the project or contract with your customer. After acceptance of your application, you can close the deal and you’ll be insured against long-term non-payment, insolvency and political risk.

We take care of collection
Has your customer failed to pay, even though you’ve sent a reminder and a formal warning? Pass the receivable on to Euler Hermes for collection. Our collection department will then try to recover your debt.

We pay out your claim
Has the customer still not paid after the collection process, or is it insolvent? We’ll pay the claim for your project based on the agreed cover percentage.

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Talk to our trade credit experts about your customers,
and learn all about the risks and opportunities.

Get a Free Risk Assessment

Why choose Euler Hermes?

Dedication

55,000+

clients worldwide

Experience

85+ million

businesses monitored

Assurance

AA rating

by Standard & Poor’s

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Cover One